Market Overview:
Automotive armrests are a feature of automobiles that allow drivers to store important items or rest their hands on them so they can be easily accessed while driving. Some of its features include space, a cup holder, and control over some non-essential vehicle functions. A third person can sit on the foldable armrest in the backseat or use it as a stand to rest on their side. High-end automobiles are the only ones with this feature. Nearly every automobile has an armrest built into the door that can either be used to rest one's hands or keep the door open when opening it. The armrest of a car can be found on the door or the seats. Regardless of the seat's location or the driver's height, armrests enhance driving comfort.
Top Key Players Covered In The Automotive Armrest Market:
Grammer (Germany), EFH Armrests (Finland), Fehrer (Germany), ABC Group (Canada), BOS (U.S.), Master Molded Products Corporation (U.S.), Irvin Automotive Products (U.S.), Accuride (U.S.), Bentex Automotive (India), Yangfeng Johnson Controls (China), Intap (Mexico), Proseat (Belgium), Noco AB (Sweden) and Other major players.
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Market Dynamics and Factors:
Increasing production and emphasis on the interior design of cars are driving the automotive armrest market. The market for automotive armrests is expanding strongly as a result of an increase in road trips. The automotive armrest market is expanding due to the rising demand for armrests from original equipment manufacturers (OEMs) and the rising production and sales of new vehicles. Additionally, during the forecast period, the automotive armrest market is anticipated to be driven forward by an expanding rental car market and an increasing emphasis on car interior design. Leading armrest manufacturers are putting their goods on the internet to gain automotive armrest market share across the world.
Huge demand for innovations in new vehicles in the car industry is expected to drive the market in the future. As the automotive industry is constantly evolving and introducing new features in vehicles, customers are increasingly looking for more comfort and convenience in their cars. The armrest is one such feature that can enhance the driving experience by providing a comfortable place to rest the arm during long drives. As a result, the demand for armrests has increased significantly, leading to growth in the automotive armrest market. The rise of electric vehicles and autonomous vehicles has also contributed to the growth of the automotive armrest market. As these vehicles tend to have more advanced and sophisticated features, customers expect a higher level of comfort and convenience.
Automotive Armrest Market Report Highlight:
- By type, the Passenger Vehicles segment is anticipated to lead the growth of the Automotive Armrest market in the forecasted timeframe. Production and sales of passenger cars are rising all over the world as a result of rising urbanization, rising living standards, and rising disposable income.
- By Material, the plastic segment is expected to have the highest Automotive Armrest market share over the projected period. Because plastic is lightweight, durable, and cost-effective compared to other materials such as wood, steel, or aluminum. Additionally, plastic can be easily molded into various shapes and designs, allowing for greater flexibility in the design of armrests.
- By Sales Channel, the OEMs segment is set to develop at the highest CAGR during the forecasted timeframe. The market's expansion is being fueled by the preference of automobile manufacturers to purchase armrests directly from original equipment manufacturers.
- The Asia Pacific region is expected to have the highest Automotive Armrest market share over the projected period. Because of the increased production and sale of passenger vehicles in China, South Korea, and India, as well as the existence of a well-established supply chain network catering to the shipbuilding industry, car production, and rising demand for transportation.
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Key Industry Development:
In October 2021, Grammer AG is the one in the world that offers complete driver seat systems with integrated electronic control elements that developed multifunctional armrests. They are best suited for construction and agricultural machinery, forklifts, and other off-road vehicles. They are based on Grammer's well-known seat systems, which will be available for purchase out of the factory in the future along with the brand-new integrated armrest that can serve multiple purposes.
Automotive Armrest Market Segmentation:
By Type
- Passenger Vehicles
- Commercial Vehicles
By Material
- Wood
- Plastic
- Steel
- Aluminium
By Sales Channel
- Aftermarket
- OEMs
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For this report, Introspective Market Research has segmented the Automotive Armrest Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2023-2030)
- North America (US, Canada, Mexico)
- Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
- Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
- Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
- Middle East Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
- South America (Brazil, Argentina, Rest of SA)
Scope of the Report:
The latest research on the Automotive Armrest market provides a comprehensive overview of the market for the years 2023 to 2030. It gives a comprehensive picture of the global Automotive Armrest industry, considering all significant industry trends, market dynamics, competitive landscape, and market analysis tools such as Porter's five forces analysis, Industry Value chain analysis, and PESTEL analysis of the Automotive Armrest market. Moreover, the report includes significant chapters such as Patent Analysis, Regulatory Framework, Technology Roadmap, BCG Matrix, Heat Map Analysis, Price Trend Analysis, and Investment Analysis which help to understand the market direction and movement in the current and upcoming years. The report is designed to help readers find information and make decisions that will help them grow their businesses. The study is written with a specific goal in mind to give business insights and consultancy to help customers make smart business decisions and achieve long-term success in their particular market areas.
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